Withholding Tax Rates 2016* International Tax

Updated March 2016

Jurisdiction Dividends Interest Royalties Notes

Albania 15% 15% 15%

Algeria 15% 10% 24%

Andorra 0% 0% 5%

Angola 10% 15% 10%

Anguilla 0% 0% 0%

Antigua & Barbuda 25% 25% 25%

12.25%/ Portion of gross royalties subject to tax varies depending on

Argentina 10%/35% 15.05%/35% 17.5%/21%/ type of payment, and effective rates range from 12.25% to
28%/31.5% 31.5%.

Armenia 10% 10% 10%

Aruba 0%/5%/10% 0% 0%

Australia 0%/30% 10% 30%

Rate on dividends and interest increased from 25% on 1
Austria 27.5% 0%/27.5% 20% January 2016. Qualifying payments to EU companies may
be exempt under EU directives.
Azerbaijan 10% 10% 14%

Bahamas 0% 0% 0%

Bahrain 0% 0% 0%

Bangladesh 20% 20% 20%

Barbados 0%/15%/25% 0%/15% 0%/15%

Belarus 12% 10% 15%

Higher rate on dividends, interest and royalties paid to a
nonresident increased from 25% to 27% on 1 January 2016.
Belgium 15%/27% 0%/15%/27% 15%/27%
Qualifying payments to EU companies may be exempt
under EU directives.

Benin 15% 15% 10%/12%

Bermuda 0% 0% 0%
Republika Srpska does not levy withholding tax on
Bosnia-Herzegovina 0%/5% 10% 10%
dividends.
Botswana 7.5% 15% 15%

Brazil 0% 15%/25% 15%/25%

British Virgin Islands 0% 0% 0%

Brunei 0% 15% 10%

Qualifying payments to EU companies may be exempt
Bulgaria 0%/5% 10% 10%
under EU directives.
Burkina Faso 12.5% 25% 0%

Burundi 15% 15% 15%

Cambodia 14% 14% 14%

Cameroon 16.5% 16.5% 15%

Canada 25% 0%/25% 0%/25%

Cayman Islands 0% 0% 0%
25% rate applies to portion of royalties exceeding 10% of
Chad 20% 25% 25%
taxable income.
Jurisdiction Dividends Interest Royalties Notes
Chile 35% 4%/35% 0%/15%/30%

China 10% 10% 10%

0%/5%/14%/ Withholding tax on royalties for licensing software levied on

Colombia 0%/33% 33%
33% 80% of payment.

Congo (Dem. Rep.) 20% 20% 20%

Cook Islands 15% 15% 15%

Costa Rica 5%/15% 0%/15% 25%

Qualifying payments to EU companies may be exempt
Croatia 12% 15% 15%
under EU directives.

Curaao 0% 35% 0%
Qualifying payments to EU companies may be exempt
Cyprus 0% 0% 5%/10%
under EU directives.
Rate increases to 35% if payment made to tax haven.
Czech Republic 15%/35% 15%/35% 15%/35% Qualifying payments to EU companies may be exempt
under EU directives.
Qualifying payments to EU companies may be exempt
Denmark 0%/15%/27% 0%/22% 22%
under EU directives.
Dominica 15% 15% 15%

Dominican Republic 10% 10% 27%

Ecuador 0%/10% 0%/22%/25% 22%/25% Higher rates apply to payments made to tax havens.

Egypt 5%/10% 0%/20% 20%

El Salvador 10%/25% 10%/20%/25% 5%/20%/25% 25% rate applies if payment made to tax haven.

Equatorial Guinea 25% 25% 10%

Withholding tax on interest applies only where nonresident

investor derives interest income from Estonian contractual
Estonia 0% 0% 10%
fund or other pools of assets. Qualifying payments to EU
companies may be exempt under EU directives.

Ethiopia 10% 5% 5%
Qualifying payments to EU companies may be exempt
Finland 20% 0% 20%
under EU directives.
Rate increases to 75% for payments made to companies
France 30%/75% 0%/75% 33.33%/75% located in noncooperative countries. Qualifying payments to
EU companies may be exempt under EU directives.

Gabon 10%/20% 10% 10%

Gambia 15% 15% 15%

Georgia 5% 5%/15% 5%/15% 15% rate applies to payments made to tax haven country.

5.5% solidarity surcharge also applies. Qualifying payments

Germany 25% 0% 15%
to EU companies may be exempt under EU directives.

Ghana 8% 8% 15%

Gibraltar 0% 0% 0%
Qualifying payments to EU companies may be exempt
Greece 10% 15% 20%
under EU directives.
Grenada 15% 15% 15%

Guatemala 5% 0%/10% 15%

Guernsey 0% 0% 0%

Guinea Conakry 10% 10% 15%

Honduras 10% 10% 25%

Hong Kong SAR 0% 0% 4.95%/16.5%

Hungary 0% 0% 0%

Iceland 0%/18% 10% 20%

5%/20%/30%/
India 0% 10%
40%
Jurisdiction Dividends Interest Royalties Notes
Indonesia 20% 20% 20%

Iraq 0% 15% 0%

Qualifying payments to EU companies may be exempt

Ireland 0%/20% 0%/20% 0%/20%
under EU directives.

Isle of Man 0% 0% 0%

4%/15%/20%/ Rate on interest and royalties reduced from 26.5% to 25%

Israel 0%/25% 25%
25%/30% as from 1 January 2016.

Royalties taxed on 75% of gross payment, resulting in

Italy 1.375%/26% 12.5%/26% 30% effective rate of 22.5%. Qualifying payments to EU
companies may be exempt under EU directives.

Ivory Coast 15% 18% 20%

Jamaica 33.33% 33.33% 33.33%

Japan 20% 15%/20% 20% Surtax of 2.1% also applies.

Jersey 0% 0%/20% 0%/20%

Jordan 0% 5%/10% 10%

Kenya 5%/10% 15%/25% 20%

10% local surcharge also applies, resulting in effective rate

Korea (ROK) 20% 14%/20% 20%
of 22% (and 15.4% for certain interest).

Kosovo 0% 10% 10%

Kuwait 0%/15% 0% 0%

Kyrgyzstan 10% 10% 10%

Payments made to residents of black-list jurisdictions

Latvia 0% 0% 0% subject to 15% withholding tax (30% on interim dividends
and 5% on interest paid by banks).

Lebanon 10% 5%/10% 7.5%

Lesotho 0%/25% 25% 15%/25%

Libya 0% 0%/5% 0%

Liechtenstein 0% 0% 0%

Qualifying payments to EU companies may be exempt

Lithuania 0%/15% 0%/10% 10%
under EU directives.
Qualifying payments to corporation subject to tax in treaty
Luxembourg 0%/15% 0% 0%
country may be exempt.
Macao SAR 0% 0% 0%

(FYROM) Macedonia 10% 10% 10%

Madagascar 0% 20% 10%

35% rate applies to payments made to residents of listed tax

Madeira 0%/25%/35% 0%/25%/35% 0%/25%/35%
havens.

Malawi 10% 15% 15%

Malaysia 0% 0%/15% 10%

Maldives 0% 0% 10%

Malta 0% 0% 0%

Mauritania 10% 0%/10% 15%

Mauritius 0% 0%/15% 0%/15%

4.9%/10%/15%/ 25%/35%/ 40% rate applies to payments made to tax haven

Mexico 10%
21%/35%/40% 40% jurisdiction.

Moldova 6% 12% 12%

Monaco 0% 0% 0%

Mongolia 20% 20% 20%

Montenegro 9% 9% 9%

Morocco 15% 10% 10%

Jurisdiction Dividends Interest Royalties Notes
Mozambique 10%/20% 20% 20%

Myanmar 0% 15% 20%

Namibia 10%/25% 0%/10% 10%

Nauru 0% 0% 0%

Qualifying payments to EU companies may be exempt

Netherlands 0%/15% 0% 0%
under EU directives.

New Zealand 0%/15%/30% 15% 15%

17% rate applies to payments to residents of tax haven

Nicaragua 15%/17% 15%/17% 15%/17%
jurisdictions.

Nigeria 7.5%/10% 7.5%/10% 7.5%/10% 7.5% rate applies to recipients in treaty countries.
No tax withheld on dividends paid to corporate shareholders
Norway 0%/25% 0% 0%
resident in EEA.
Oman 0% 0% 10%

Pakistan 12.5%/17.5% 10%/20% 15%

Palau 0% 0% 0%

Palestinian Territories 10% 0% 10%

Withholding tax on the distribution of dividends from real

Panama 5%/10%/20% 12.5% 12.5%
estate investment companies and preferred shares is 10%.

Papua New Guinea 0%/10%/17% 0%/15% 10%/30%

6% withholding tax on payments made to a financial
institution. 30% withholding tax on interest and royalties
Paraguay 15% 6%/30% 30%
generally levied on 50% of payment, resulting in effective
rate of 15%.
Peru 4.1%/6.8% 4.99%/30% 30%

Philippines 15%/30% 20% 30%

Qualifying payments to EU companies may be exempt
Poland 19% 20% 20%
under EU directives.
35% rate applies to payments made to residents of listed tax
Portugal 25%/35% 25%/35% 25%/35% haven jurisdictions. Qualifying payments to EU companies
may be exempt under EU directives.

Qatar 0% 7% 5%
Rate on dividends reduced from 16% to 5% as from 1
Romania 5% 16% 16% January 2016. Qualifying payments to EU companies may
be exempt under EU directives.
Russia 15% 20% 20%

Rwanda 15% 15% 15%

Saudi Arabia 5% 5% 15%

Senegal 10% 8%/16%/20% 20%

Rate increases to 25% for payments made to resident in

Serbia 20%/25% 20%/25% 20%/25%
preferential tax jurisdiction.

Seychelles 15% 15% 15%

Sierra Leone 10% 15% 25%

Singapore 0% 0%/15% 0%/10%

Sint Maarten 0% 35% 0%

35% rate applies to interest and royalties payments made to

Slovakia 0% 19%/35% 19%/35% resident of listed tax haven. Qualifying payments to EU
companies may be exempt under EU directives.

Qualifying payments to EU companies may be exempt

Slovenia 15% 15% 15%
under EU directives.

Solomon Islands 0%/30% 0%/15% 15%

South Africa 15% 15% 15%

South Sudan 10% 10% 10%

Jurisdiction Dividends Interest Royalties Notes
As from 1 January 2016, rate on dividends and interest
reduced from 19.5% to 19% and rate on royalties reduced
from 19.5% to 19% for income derived by EU/EEA
Spain 19% 0%/19% 19%/24%
residents. Rate is 24% for royalties paid to other
nonresidents. Qualifying payments to EU companies may be
exempt under EU directives.
Sri Lanka 10% 15% 15%

St. Kitts & Nevis 10% 10% 10%

St. Lucia 0% 15% 15%/25%

St. Vincent & the Grenadines 0% 15%/20% 15%/20%

Swaziland 12.5%/15% 10% 15%

Qualifying payments to EU companies may be exempt

Sweden 0%/30% 0% 0%
under EU directives.
Under Switzerland's agreement with EU, measures
Switzerland 35% 0%/35% 0% equivalent to EU parent-subsidiary directive apply in
qualifying cases.

Syria 0% 7.5% 5%

Taiwan 20% 15%/20% 20%

Tanzania 5%/10% 10% 15%

Thailand 10% 0%/10%/15% 15%

Trinidad & Tobago 5%/10% 15% 15%

Tunisia 5% 20% 15%

Turkey 15% 0%/10% 20%

Turkmenistan 15% 15% 15%

Uganda 15% 15% 15%

Ukraine 15% 15% 15%

United Arab Emirates 0% 0% 0%

Qualifying payments to EU companies may be exempt

United Kingdom 0% 20% 20%
under EU directives.

United States 30% 0%/30% 30%

Uruguay 7% 3%/5%/12% 12%

Uzbekistan 10% 10% 20%

Vanuatu 0% 0% 0%

Withholding tax levied on 95% of gross interest (at 15%-

Venezuela 0%/34% 4.95%/15%-34% 34% 34% rates) and 90% of gross royalties, giving rise to
effective rates of 14.7%-32.3% and 30.6%, respectively.

Vietnam 0% 5% 10%

Virgin Islands (US) 0%/10% 10% 10%

Yemen 10% 0%/10% 10%

Zambia 15% 15% 20%

Zimbabwe 10%/15% 0% 15%

* Rates apply to payments to nonresidents and may be reduced under provisions of applicable tax treaty.
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